Report: CFTC chair's adviser told staff to retract insider-trading referral on oil trades before Trump's Mar. 23 Iran post (update, Oct. 13, 2026) Case Bloomberg reported on Oct. 13, 2026, citing unnamed sources, that CFTC analysts referred suspicious oil and futures trades placed minutes before Trump's Mar. 23 Iran post to the enforcement division, and that an adviser to Chairman Michael Selig then told a supervisor to retract the referral and took over the data gathering. The CFTC declined to comment; the White House has called insider-profiteering suggestions baseless. This rests on one original report with anonymous sources and has not been independently confirmed. What was reported (Oct. 13, 2026) Bloomberg reported on Oct. 13, 2026, citing unnamed sources, that CFTC analysts flagged large oil and stock-futures trades made at about 6:49 a.m. ET on Mar. 23, 2026, shortly before Trump's Truth Social post delaying strikes on Iranian energy infrastructure, and referred them to the enforcement division to consider an insider-trading inquiry. Per Bloomberg, an adviser to CFTC Chairman Michael Selig then told a supervisor on the market oversight team to retract the referral and took over examination of the trades; Bloomberg's sources said such a retraction had rarely, if ever, been ordered. The New Republic, relaying Bloomberg, names the adviser as Mel Gunewardena and says he wanted to take over data gathering himself. Per the IBTimes UK summary of Bloomberg, career staff were left unsure how or whether the matter would proceed. The Financial Times estimated about 6,200 Brent and WTI contracts, roughly $580 million, changed hands in the 6:49-6:50 a.m. window; Brent fell as much as 14% after the post. The CFTC declined to comment to Bloomberg and the adviser did not respond; no denial is reported. Selig said publicly in April that fraud, manipulation and insider trading would face the full force of the law. Sens. Warren and Whitehouse wrote to Selig on Apr. 9 about the Mar. 23 trades and a roughly $950 million bet before the Apr. 7 ceasefire; the senators acknowledged the Mar. 23 position could have been placed legitimately. Who placed the trades is not public and no charges have been reported. Limit of this entry: it rests on one original report with anonymous sources (Bloomberg, paywalled and not opened directly); the other sources here relay it. Perspectives Official position — White House (spokesperson Kush Desai, as reported by IBTimes UK) The White House called the implication of insider profiteering \"baseless and irresponsible.\" Staff received an internal memo in March warning against trading on confidential information. The CFTC declined to comment and has not said why the referral was withdrawn; an adviser's taking over a review could have an administrative explanation that has not been given. Expert view — Aitan Goelman, former CFTC enforcement director (as quoted by Bloomberg via The New Republic) Goelman called such a move unprecedented in past administrations. Energy Aspects analyst Tim Skirrow said the trade timing suggested someone \"got very lucky or knew something.\" Note Single-source report (Bloomberg, unnamed sources, paywalled; seen only through secondary relays). The CFTC declined to comment, the adviser did not respond, and the White House calls insider-trading implications baseless and irresponsible. Sources [1] Bloomberg: CFTC staff told to retract analysis of suspicious oil trades on Iran (https://www.bloomberg.com/news/features/2026-10-13/cftc-staff-told-to-retract-analysis-of-suspicious-oil-trades-on-iran) · 2026-10-13 [2] IBTimes UK: Officials flagged a $580 million oil bet before Trump's Iran reversal, then were told to back off (https://www.ibtimes.co.uk/cftc-insider-trading-referral-iran-oil-bet-1825415) · 2026-10-13 [3] Just Security Early Edition, Oct. 14, 2026 (https://www.justsecurity.org/160738/early-edition-october-14-2026/) · 2026-10-14 [4] The New Republic: Trump official tries to kill report on perfectly timed oil trades (https://newrepublic.com/post/216574/trump-official-tries-kill-report-perfectly-timed-oil-trades-cftc) · 2026-10-13 Connections Related — Suspiciously timed trades before Trump's Iran and tariff announcements, and active trading in accounts in his name (2025-2026) New development (Oct. 13, 2026) on the Mar. 23 oil trades documented in the published entry.